American Electric Power ($AEP) announced an agreem
Post# of 250675
Posted On: 10/05/2015 3:44:30 AM
American Electric Power ($AEP) announced an agreement to sell its commercial barge transportation subsidiary AEP River Operations to Platinum Equity-owned American Commercial Lines for $550 million. Net of tax, the sales proceeds are estimated at $400 million. AEP also said it would record a net gain of $125 million in its fourth quarter results related to the sale.
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